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Kenya PMI June 2022

Kenya: PMI falls deeper into contractionary territory in June

The S&P Global Purchasing Managers’ Index (PMI) declined to 46.8 in June, below May’s 48.2 and marking a 14-month low. Consequently, the index fell further below the 50.0 no-change threshold, signaling a sharper deterioration in business conditions compared to the previous month.

June’s downturn was driven by rising price pressures exerting further pressure on client demand and leading to a sharper decline in both output and new orders. Brisker increases in fuel prices due to the war in Ukraine continued to spearhead the increase in costs, while material shortages, a strong USD and higher wages further contributed. This, in turn, led to output charges increasing at one of the strongest paces on record. Meanwhile, staffing levels were marginally reduced. Lastly, in contrast, firms’ sentiment improved for the first time in four months.

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